Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the transaction. Unless otherwise specified, the net date is 20 days after the discount date. Date of Invoice Terms of Sale Discount Date Net Date September 28 3/15, EOM  ---Select--- January February March April May June July August September October Nov

Q: An invoice for accessories is dated December 27 and this paid on January 10. The trade discount is…

A: The following Free on board agreements is given to the trader as per the quantity purchased.

Q: The invoice date for a bill is April 14 with the terms 2/15 ROG. If the goods were received on June…

A: The Receipt-of-goods (ROG) is the method of payment, wherein the date of commencement is the day on…

Q: Renz Aguhob Fireworks engaged in the following purchase transactions during the month. The entity…

A: (A) (B) (C)  (D) = (A)*(C)  (E) = (A)-(D)  (F) (G) = (E)*(F)  (H) (I) = (G)*(H)  (J) = (G)*(I)  (K)…

Q: Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the…

A: While issuance of invoice the terms of discount is also mentioned using EOM, ROG or extra dating…

Q: The invoice date for a bill is April 13 with the terms 3/15 ROG. If the goods were received on April…

A: ROG is an acronym of receipt of goods. It means when the goods or inventory are received by the…

Q: The shaded sections below contain solutions to help you get a QUICK START on the various types of…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: An invoice is dated October 24 with terms of 4/18 EOM. Assuming the net date is 20 days after the…

A: EOM signifies End of the Month. Discount date is the date till the discount is valid. Net date is…

Q: See the attached pic first before answering. On June 18, ABC Company paid the purchases on June 13…

A: Purchase discount is the allowance or reduction which is allowed on purchases of the business and…

Q: Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the…

A: EOM refers to "end of month". It means that discount is available for a particular number of days…

Q: Determine the amount to be paid by the buyer for full settlement of each invoice, assuming that…

A: 1/10 net 30 means that 1 percent discount will be given if the payment is made with in 10 days and…

Q: Create the journal entries for Bates to recognize the following transactions. Assume the perpetual…

A: Journal entry:   Journal entry is a set of economic events which can be measured in monetary terms.…

Q: sales invoice included the following information: merchandise price, $4,500; transportation, $300;…

A: Net Sales  = Sales - Returned

Q: JIH took delivery of merchandise invoiced at $24,600.00 with terms cash 6, 2/40, n/60. Calculate the…

A: The interest is calculated based on certain terms and conditions. The payment is depends on time…

Q: A sales invoice include the following information: merchandise price, $12,000: terms 1/10, n/oem;FOB…

A:

Q: Crossings Company regularly buys merchandise from Best Company and is allowed trade discounts of 20%…

A: Trade discount is one of type of discount which is used by a manufacturer to provide benefit to…

Q: The terms of sale are 3/20, net/45, May 1 dating. What is the last date the customer may pay in…

A: Meaning of 3/20, net/45 :- 3/20,  net/45 means that if the invoice price due is paid within 20…

Q: you purchase goods with a list price of $455 and a trade discount of 25%. The invoice is dated…

A: List Price = $455 Trade Discount = 25% Invoice Date= October 3 Credit Terms = 3/15, n/45

Q: When using perpetual inventory system, which of the entry or entries correctly record(s) the return…

A: The correct answer is:

Q: You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of…

A: A time period of discount which is available for the customer for reducing the cash payment by cash…

Q: The entry to record the receipt of payment within the discount period on a sale of $2400 with terms…

A: A firm makes sales to its customer and allows a discount for making payment early. The discount on…

Q: You purchase goods with a net price of $240. The invoice is dated October 7 with terms of 3/20,…

A: The invoice is prepared to record the amount due and other terms related to payment including…

Q: On March 1, Bates Board Shop sells 280 surfboards to a local lifeguard station at a sales price of…

A: Accounts Receivables are those  accounts of customers to whom business has made credit sales on…

Q: How do you find the date goods received, last day of the discount period, and end of credit period…

A: Compute the last day of the discount period, and end of credit period:Discount period:In this case,…

Q: Using the ordinary dating method, calculate the discount date and net date for the following…

A: DATE OF INVOICE : APRIL 23    TERM OF SALE : 3/15 , n/60 MEANS THAT 3% CASH DISCOUNT IS GIVEN IF…

Q: A retailer purchases some merchandise with an invoice price of $19,900 and terms of sale of 5/15,…

A: Discount on sales value: When the customer pays the amount within discount period then customer is…

Q: An invoice dated May 5, 2019 has terms of sale 3/15, n60 ROG for goods received onJune 15, 2019.…

A: According to ROG, the organization evaluates the due date of the invoice from the date when the…

Q: After the amount due on a sale of s33,900, terms 2/10, neom, is received from a customer within the…

A:

Q: Sales-related transactionsAfter the amount due on a sale of $28,000, terms 2/10, n/eom, is…

A: Terms 2/10 means that 2% discount will be allowed if payment is made within 10 days, otherwise full…

Q: Determine the amount to be paid by the buyer for full settlement of each invoice, assuming that…

A: Explanation : 1/10 , net 30 means 1% discount is given if payment is made within 10 days otherwise…

Q: Hello, for each purchase below, I have to calculate the amount to be paid, taking into account any…

A: Credit sales refer to a sale in which the amount owed will be paid at a later date. In other words,…

Q: Details of a purchase invoice and related credit memo are summarized as follows: Invoice: Cost of…

A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…

Q: er 1, Jerry's Lighting purchased merchandise with a list price of $4,100 with credit terms of 3/10,…

A: Solution: Amount of discount will be computed on the list price reduced by returns of merchandise if…

Q: The buyer received an invoice from the seller for merchandise with list price of RO 3500 and credit…

A: Amount of discount=Invoice amount×Rate of interest=RO 3500×2%=RO 70 Thus, the amount of discount…

Q: ou purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods…

A: The last day of the discount period represents the last day on which the customer has to pay the…

Q: The invoice date for a bill is April 14 with the terms 2/15 ROG. If the goods were received on June…

A: Discount date: April 29 Due Date: May 19

Q: Walmart received an invoice of $25,800, dated July 27, with terms of sale 4/15 EOM. Walmart would…

A: 4/15 EOM means that the company can receive 4% discount if it pays in 15 days, otherwise pay the…

Q: A sales invoice included the following information: merchandise price, $6,000; terms 2/10, n/30.…

A: Payment terms 2/10, n/30 means discount of 2% is valid till 10 days from the date of purchase.…

Q: Using the ordinary dating method, calculate the discount date and the net date for the following…

A: Given, The Trade Discount terms are, 2/10, 1/20, n/60

Q: PLEASE SHOW ALL WORK You purchase goods on an invoice dated July 27 with terms of 3/10 EOM.…

A: The invoice is prepared to record the amount due from customers agains credit sales and it also…

Q: Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the…

A: Given  The date of invoice is April 28 and terms of sale is 3% of cash discount that will be…

Q: How do you find the date goods are received, last day of discount, and end of credit period when the…

A: Compute the date of goods received:  The invoice is dated for November 27th. Hence, the goods are…

Q: The buyer received an invoice from the seller for merchandise with list price of RO 3500 and credit…

A: Solution:- Introduction:- Findings as follows:- Buyer received an invoice from the seller for…

Q: A supplier offers the following discounts: Trade discounts of 20% at list price and another cash of…

A: The amount paid after discount is calculated as difference between total invoice price and discount…

Q: A buyer who purchases merchandise under credit terms of 1/10, n/30 has 30 days after the invoice…

A: Given that, credit terms are =  1/10, n/30

Q: Using the accounts listed below, review the following transactions for April Anglers and record any…

A: Journal entry records the financial transaction in the accounting of an organization.

Q: if merchandise is sold on account to a customer for 1,000 terms fob shipping point 1/10, n/30, and…

A: Discount for early payment is allowed when the customer pays off an amount in a given time period as…

Q: Whispering Winds Corp. provides the following information for the month ended October 31, 2019;…

A: Net sales = Gross sales - Sales return and allowance and discount

Q: Complete the following: (Use Table 7.1) Invoice Date goods are received Terms Last day of discount…

A: Invoice Date = June 18 Terms = 1/10, n/30   The corresponding number to June 18 in Table 7-1 is 169.